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‘NO COMMENT’ SPOKESMAN REFUSES TO ANSWER QUESTIONS ON EVERYONE’S LIPS


The Sunday Independent posed the following questions to Minister of State for Small Business John Perry but he refused to comment. A spokesman said: “As this matter currently remains before the courts, Minister Perry will be making no comment.”

In relation to the loan Mr Perry agreed with Bank of Ireland to help pay his outstanding tax bill of approximately €100,000, what security – if any – was provided to the Bank of Ireland?

• Why did Mr Perry tell Danske Bank officials that he was friends with Bank of Ireland chief executive Richie Boucher? What would this have to do with any decision the bank would make on extending credit to him? Did he expect it to make a difference?

• Why did Mr Perry meet Danske officials in his Dail office? Did he not consider this to be an inappropriate use of that office? Did he think a meeting held in a minister’s office would in any way influence Danske Bank officials in their treatment of him?

• Can Mr Perry explain his remark to Danske Bank officials on January 31 last, where he accused them of being engaged in a form of bullying? Why did he go on to ask the bank’s officials if they treated all their customers in the same way? Does he consider it appropriate to have referred to the bank’s relations with other customers given his position as a government minister?

via ‘NO COMMENT’ SPOKESMAN REFUSES TO ANSWER QUESTIONS ON EVERYONE’S LIPS – Independent.ie.

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Beleaguered Perry owed more than €100,000 to taxman


Junior  minister John Perry’s position has become increasingly tenuous after it emerged he had tax arrears of €100,000 with the Revenue Commissioners.

Taoiseach Enda Kenny yesterday gave a less than ringing endorsement to the minister and speculation has already begun about his successor as Small Business Minister.

Court documents also reveal Mr Perry told Danske Bank, to whom he owes €2.5m, that he “knew Richie Boucher of Bank of Ireland” during negotiations on his loans.

The documents also show Mr Perry accusing the bank of “a form of bullying” and alluded to the personal consequences of actions by the bank “with his job”.

Mr Kenny said he has spoken with Mr Perry about his financial difficulties this week.

And the Taoiseach has also discussed the matter with Tanaiste Eamon Gilmore as concern within the Coalition over Mr Perry’s position mounts.

However, it is not clear if the Taoiseach or Tanaiste were aware of Mr Perry’s tax arrears – as neither Government leader is commenting.

But Mr Perry told Danske Bank in January 2012 that Bank of Ireland had agreed to give him a 10-year loan to help him address tax arrears of about €100,000, according to Commercial Court documents.

But it is not clear if the minister has since cleared the arrears with Revenue.

Last night, opposition parties called on Mr Perry (pictured) to make a statement on his finances as the reference to tax arrears piled the pressure on the minister.

Mr Perry has six weeks to repay €2.5m after he and and his wife Marie consented to a judgment for that amount against them at the Commercial Court over unpaid loans on Monday.

Mr Kenny said Mr Perry’s case was “indicative” of a number of business people across the country who have got into financial difficulty. I don’t really want to say anymore about John Perry’s particular problem.

“I spoke to him on Sunday and obviously they are working on that for the future,” he said.

Speaking on Mid-West Radio in Mayo, Mr Kenny said Mr Perry was committed to continuing his work as Small Business Minister.

“Obviously he has worked exceptionally hard in terms of his ministry. He’s got a court judgment to deal with here now in respect of the next five or six weeks,” he said.

Mr Gilmore’s spokesman said the Tanaiste reiterated that Mr Perry and his wife should be given the “time and space” to deal with the issues.

He also confirmed the Taoiseach and the Tanaiste had a “brief conversation” on the matter.

Mr Kenny’s spokesman also would not comment on the tax arrears question.

“The Taoiseach is not going to comment on the details of the case as the court proceedings progress,” the spokesman said.

But Fianna Fail finance spokesman Michael McGrath said it would not be acceptable for Mr Perry, as Minister of State for Small Business, to preside over businesses that were not meeting their taxation obligations to the State.

“In my view, on that issue alone, his position is very much called into question,” he said.

Mr Perry also told Danske Bank that AIB had agreed to give him an 11-year loan to pay €125,000 to other creditors and his other lenders had agreed to continue facilities on an interest only basis, minutes of meetings state.

The minutes relate to some of a number of meetings held between Danske and Mr Perry about delays in making repayments on a loan of €2.4m made to him and his wife in October 2011.

It also emerged that when the bank indicated last january that it would seek judgment or appoint a receiver if satisfactory proposals were not provided, Mr Perry expressed shock at the bank’s “aggressive approach”.

Irish Independent

via Beleaguered Perry owed more than €100,000 to taxman – Independent.ie.

Perry faces serious political consequences following €2.47m judgment –


image

Last April, Minister of State for Small Business John Perry wrote to the chief executives of Bank of Ireland and AIB asking them to meet a Government advisory group and set out their positions on funding small and medium-sized enterprises, and how they dealt with SMEs with distressed loans.

“It is imperative that we listen to the voice of small business,” said Perry. Indeed when Taoiseach Enda Kenny appointed him to the ministerial ranks it was because of Perry’s “understanding of small business”.

The extent of Perry’s understanding of distressed loans in the SME sector became clearer yesterday when the Sligo politician and his wife, Marie, consented in the Commercial Court to a judgment of €2.47 million against them in favour of Danske Bank

The debt related to a €2.42 million loan advanced to the couple in October 2011, which itself was a restructuring of existing loans. To use the phrase made infamous by the Anglo Irish recordings, Perry as the relevant Minister had skin in the game.

Security
The court proceedings disclosed that security and collateral on the loan included the Stone Park Restaurant, Perry’s Hardware shop in the politician’s home town ofBallymote, Co Sligo, as well as 50 acres of agricultural land.

The Fine Gael politician did not make himself available for comment yesterday and a spokeswoman said: “The matter remains before the court and he will not be making any comment until [proceedings are concluded].”

Registration of the judgment is scheduled for September 2nd. The Perrys had sought a three-month stay on the registration to allow them seek a resolution but counsel for Danske Bank objected on the grounds that they had had ample time to do so.

The judgment will create major political problems for Perry and might even cast a strong doubt on his future status as a TD. Officially the Government will make no comment about the case but privately officials have said it is a private matter for the Minister of State that does not impinge on his public duties in Government.

He will be the second Minister in the past year to have his financial affairs exposed to scrutiny, following the inclusion of Minister for Health James Reilly’s name in Stubbs’ Gazette. Politically, however, the judgment will have more ramifications for Perry.

He is, after all, the Minister for Small Business. And in his position, can he credibly call – as he did last April – for the chief executives of the country’s biggest banks to explain their position on distressed loans to an advisory group of which he is a member when he himself is in that category? The Dáil is in recess but will be returning within a fortnight of the judgment being registered.

via Perry faces serious political consequences following €2.47m judgment – Political News | Irish & International Politics | The Irish Times – Tue, Jul 23, 2013.

FG Minister is sued over €1.3m debt by Danske…Is it time for Perry to resign ?


John Perry, the Fine Gael Minister for Small Business, is being taken to court by Danske Bank which is seeking repayment of close to €1.3m in loans racked up during the property boom.

The Sligo TD owns a number of businesses and properties in and around his Ballymote power base. The latest register of Oireachtas members’ interests lists his assets as including a supermarket, apartment, funeral home, 70 acres of land in various locations and offices in Ballymote and Sligo town.

 

Read More

http://www.independent.ie/business/irish/fg-minister-is-sued-over-13m-debt-by-danske-29383223.html

Is Perry the worst Minister of State Ever?

If he has any sense  of decency  John Perry a Minister who has blatantly lied to his constituents and is being taken to court for nonpayment of debts  should immediately resign his seat. However it is unliky that this arragant ywat will do so.

Read on….

 

 

 

Screen-Shot-2013-04-24-at-21.07.53

 

John Perry TD for Sligo-North Leitrim and Minister of State for Small Business must be the worst appointment ever to a junior minister’s job.

John-Perry-Photocall-390x285

Generally, this man only opens his mouth to change the foot he has wedged in there. When the two feet are not at home, he comes out with gems that do not inspire confidence… “There must be assistance for small businesses that are creating unemployment throughout the country”(Dáil speech).

Rest assured this man will do nothing concrete to stimulate the retail sector where approx 40,000 jobs have been lost in the past five years. Regretfully due to Government policies, many more localized jobs are uncertain due to the inactivity of this no-getter. Even so, then again, what can you expect from a man who cannot even get around to fixing the local potholes?

John the Promise in another open-mouthed gesture guaranteed the restoration of Breast cancer services to Sligo General hospital within 100 days of Government. During a live interview with Ocean FM concerning the return of cancer services to the North West of Ireland. Perry hung up the phone when questioned on his failure to deliver on his promise. He claimed that the presenter had an agenda against him. What a cringing cop out, what paucity of thought. Perhaps a taste of things to come – A true-blue arrogant fascist to the end.

I have just done this man a slight disservice for I understand he is a high flier when it comes to claiming the few bob.

For expenses in his first twelve months, this man topped the bill. Among his colleagues, he is known as the King of uncertified reimbursement.

In conclusion, what can one say about Perry? Maybe he is a bit like the invisible man. Could you pick him out from a line-up of expense villains? That folk is the story of Perry the obscure, invisible before the election and unseen after it just waiting for his Bisto pension.

 

Is there about to be a stampede for the door by foreign-owned Irish banks?


During the Christmas 2004 tsunami in Asia, it was remarkable that there were so few mass animal deaths, and there is a long-held belief that animals can sense disaster ahead of human beings.  Likewise, banks with their fingers on the pulses of households’ and businesses’ financial performance and prospects might be expected to have an unusually perceptive grasp on the economy; with a pattern emerging of banks exiting or considering exiting the State, this doesn’t augur well for our medium term economic prospects.

Next week we should get the Q3, 2012 results from Belgian-owned KBC bank which just a few weeks ago was strongly protesting that it didn’t have plans to exit from the Irish market. Industry speculation however is that KBC has had a lousy Q3,2012 in the Irish market and that its residential mortgage book in particular continues to deteriorate at an alarming rate. Insiders thought there was something of the bank “protestething” just a little too much recently, and that a partial or total exit may also be on the cards. The single reference to Ireland in KBC’s presentation to analysts on 8thOctober 2012 was noted with curiosity by some.

Towards the end of last week, there was unverified speculation in Dublin that Ulster Bank, owned by troubled British banking giant, Royal Bank of Scotland was considering an exit from the Irish market. Ulster Bank has already been flogging loan portfolios in an obvious bid to reduce its exposure in the Irish market, but the fear is that a more substantial action is afoot. Nothing came of the speculation, but the bank’s actions will be scrutinised closely in future, to see if a more radical exit is on the cards.

Today however, we actually get a definite announcement. Danske Bank, whose local bank brands are called Northern Bank in Northern Ireland and National Irish Bank in (the Republic of) Ireland, has published its Q3,2012 results which continue to show severe deterioration in its Irish loan book, though the pace of decline has eased. Danske has announced today that “the non-core Ireland portfolio will be divested” Looking through the Danske Irish financial statement for Q3, 2012 it looks as if there’s about €3bn of non-core lending in Ireland plus €2.5bn of core in the Republic and €4.8bn in Northern Ireland. There are €1bn of non-core deposits and €2bn of core deposits in the Republic and €5bn in Northern Ireland. So today’s announcement represents a major disposal though we await details of how and when the disposal will be made.

Bank of Scotland (Ireland) and Halifax are already in the process of running down their Irish loans, partly using the asset manager Certus. This follows the announcement of the exit from the Irish market of the two Lloyds-owned units in 2010.

ACC Bank, the Irish unit of Dutch-owned Rabobank said in June 2012 that it had no plans to exit the Irish market, this despite running up four years of losses, and needing a bailout of €930m from its parent operation in Holland.

We will shortly get mortgage arrears data from the Central Bank for Q3,2012 and for the first time should get detailed information on Buy-To-Let mortgages alongside the traditional data on Owner-Occupier mortgages. BTL is especially expected to show signs of crisis, the picture with Owner-Occupier mortgages is less clear with a slowing-down in the rate of deterioration recorded in Q1 and Q2, 2012. Commercial property continues to decline at an annualised 10% and it may be too early to claim the residential market is stabilising. Unemployment remains elevated at close to 15% and economic forecasts for 2012 and 2013 are trending downwards.

Maybe some banks do have a sixth sense.

via NAMA Wine Lake.

via NAMA Wine Lake.

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